HealthMetrics, a Malaysia-based health-tech startup that offers businesses platform to manage corporate healthcare benefits and wellness has announced via a press statement that it has secured US$5 million in its Series A round. The round of funding was led by the Japanese private equity firm ACA Investments the statement noted.
The fresh funds will be invested to expand the company’s regional footprint across Southeast Asia, as well as for product development. The startup will also invest in its tech to enhance its product offerings, and improve cost-efficiency incorporate healthcare investments, the statement noted.
Finally, fresh funds will allow the start to pursue its goal of adding new business models like telemedicine, digital wellness and preventive programs to expand its offerings.
Founded in 2015, HealthMetrics provides a cloud-based software-as-a-service (SaaS) platform for businesses, enabling them to automate, simplify and manage healthcare benefits of employees holistically. The company graduated out of the Google Launchpad Accelerator program, and its other backers include RHL Ventures, Spiral Ventures, and Cradle Seed Ventures.
“We founded HealthMetrics to ensure that companies are able to manage their employee health and wellness benefits with ease, in a more streamlined and cost-effective way,” said HealthMetrics CEO Alvin Yuan. “Our aim was and still is to introduce innovative digital processes to companies for higher efficiency and productivity.”
In 2018, HealthMetrics raised seed capital from Spiral Ventures, Cradle and RHL Ventures.